Treauries steigen - BondTrader nervös

verfasst von kingsolomon, 15.08.2003, 00:29

--> U.S. Treasuries Rise After Power Outages in Northeast (Correct)

U.S. Treasuries Rise After Power Outages in Northeast (Correct)

(Corrects length of time lights flickered at Goldman in eighth paragraph.)

Aug. 14 (Bloomberg) -- U.S. Treasuries rose following power outages in New York, Toronto and Detroit.

The 4 1/4 percent note maturing in August 2003 rose 29/32 at 4:45 p.m. in New York, according to Bear Stearns & Co. The yield fell to 4.45 percent. Earlier the note rose more than a point, sending the yield down to 4.39 percent.

``The fact that the outages are so widespread has raised the nervous conditions of some of the traders who have taken to pruning positions, causing an uptick in Treasury prices,'' Gemma Wright, a director of market research at Barclays Capital Inc. in New York, said in an e-mail. Barclays, which is located on Park Avenue in New York, is operating on back-up generators, Wright said.

Power was also reported out in parts of New Jersey and North Carolina. In New York, power was reported out from the Wall Street area north to the Upper East Side. Power also is reported out in Albany, New York.

``The Treasury markets have run up a little here due to the uncertainty with the situation,'' Bryan White, who manages about $60 billion in money fund assets at Evergreen Investment Management in Charlotte, North Carolina, said in an e-mail.

``No one is panicking, but I thing you are seeing some people moving to the safety of the Treasury market,'' he said.

Financial institutions such as Merrill Lynch & Co. and Goldman Sachs Group Inc. reported that back-up generators had begun to work within seconds of the brown-outs and that their New York-based trading desks had already closed for the day by the time of the power outages.

``We have back-up generators,'' said Peter Rose, a spokesman for Goldman Sachs Group Inc. ``Our lights flickered out for 20 seconds and are now back on.''

While Rose said he couldn't confirm whether trading had been interrupted, he said the brown-outs began after markets closed and that Goldman were able to pass control to offices around the world.

``Trading was already closed and our trading is not affected,'' said Jessica Oppenheim, a spokeswoman for Merrill Lynch & Co. ``Everything is fine at this point.''
Last Updated: August 14, 2003 17:48 EDT


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gesamter Thread:

• Reuters: Bericht z. Stromausfall und Finanzmärkte - kingsolomon, 15.08.2003, 00:00
  • Treauries steigen - BondTrader nervös - kingsolomon, 15.08.2003, 00:29
    • Re: Treauries steigen - BondTrader nervös - chiron, 15.08.2003, 00:39
      • Re: Treauries steigen - BondTrader nervös - Euklid, 15.08.2003, 08:59